Medha Singh, Bansari Mayur kamdar

(Reuters: Apple Inc. (NASDAQ:) appeared to be poised for $3 trillion market capitalization at the open Tuesday after it briefly crossed the threshold on Monday.

In premarket trading, the shares of iPhone maker Apple rose by half a percent and reached $182.87. The milestone was reached by shares, which crossed $182.86 intraday trading Monday. However, the share price ended the day lower.

Apple options were the most traded U.S. stock option on Tuesday, after Tesla (NASDAQ) Inc. According to Options Clearing Corp data at 08:21 a.m. ET. Refinitiv data revealed that the Jan. 20th option has the most open interest with a strike of $200.

Refinitiv data shows that Apple represents nearly 7% if’s total value. It is the most high-ranking stock on an index, at a moment when it is at its highest.

In August 2020, the company saw a surge in demand for iPads, MacBooks and iPhones. The market capitalization of the company jumped to over $2 trillion. 16 months later, it added another trillion.

Edward Moya from Oanda New York, senior market analyst said that Apple has been a key trade in the Pandemic Trades.

The next major product breakthrough is not yet. Apple is going to have to make it harder than for two or three to achieve four to five trillion.

Apple intends to diversify into new categories like self-driving vehicles and augmented reality in order to lessen its dependence on the iPhones it tops, which account for over half of its revenues.

Apple is more valuable than most of Europe’s regional indexes (100, 40, Spain, Italy, and 40).